Gold New Bullish Trend

Gold continues its strong upward momentum, breaking above the previous uptrend channel at the $2,850–$2,860 level and reaching a new high of $2,881. This rally highlights strong bullish sentiment, driven by a combination of economic uncertainty, geopolitical risks, and technical buying. However, extreme bullish moves often signal the potential for a market correction, so traders should remain cautious.
Key Levels:
Support Levels: $2,824, $2,840 , $2,852
Resistance Levels: $2,880 $2,895
Projected Consolidation Range: $2,845–$2,885

Bullish Case: If gold holds above $2,845, it may continue its uptrend, retesting or even breaking above $2,885.
Bearish Case: A strong rejection at $2,880–$2,885 could trigger a pullback towards $2,840 and 2816 before resuming again an upward move.